Corporate Headquarters Relocation Credit: Businesses that relocate a corporate headquarters operation to West Virginia and create at least 15 new jobs are entitled to a tax credit equal to 10% of qualified investment. The non-refundable and non-transferable credit can be used to offset up to 100% of business and occupation tax and corporate net income tax liability for a period of up to 13 years.
Economic Opportunity Tax Credit: Companies that create at least 20 new jobs and make a qualified investment in a business facility may offset up to 80% of the corporate net income tax attributable to that qualified investment. If a company creates 20 new jobs with an annual median wage above the statewide average, it may offset up to 100% of the corporate net income tax attributable to the qualified investment.
High-Tech Manufacturing Credit: Businesses that create at least 20 new jobs and manufacture certain computers and peripheral equipment, electronic components or semi-conductors may receive a tax credit to offset 100% of the business and occupation tax and corporate net income tax for 20 consecutive years.
Sales & Use Tax Exemption: Materials and equipment purchased for direct use in manufacturing and Research and Development are exempt.
High Technology Valuation Act (Data Centers)
Tangible personal property, including servers, directly used in a technology or internet advertising business has a reduced assessment of 5% of its original cost for business personal property tax purposes. Sales tax is eliminated from all purchases of prewritten computer software, computers, computer hardware, servers, building materials and tangible personal property for direct use in a technology or internet advertising business.
LOW-INTEREST LOANS AND FINANCING
West Virginia offers a variety of indirect and direct loan programs that may be used for the acquisition of land, buildings, and equipment. The state can also provide customized financing through federal tax-exempt industrial revenue bonds.
Governor’s Guaranteed Work Force Program: This program provides customized job training to businesses that create at least 10 net new jobs within a 12-month period.
Last updated: April 2016